The card feature was announced at WorldPride 2019 and has since been successfully launched at major banks in the United States. The Dutch online bank bunq is the first card issuer to make True Name available in 30 European countries, including the Netherlands.
For transgender and non-binary people, the name on their debit card is often a source of sensitivity and embarrassment, because it does not reflect their true identity.
An official name change is experienced as a long and difficult legal process. Mastercard’s True Name is designed to change this. The card feature allows people to display their preferred name on the debit card. Existing and new bunq cardholders can request a new card with their chosen name as of today.
This opportunity is essential for the LGBTQIA+ community.
One in three (32%) people who use an ID that doesn’t match their true identity have experienced negative experiences such as harassment, denied services or even assaulted.
‘At Mastercard, we stand for inclusion. We offer cardholders the option to use their chosen name because everyone earns financial products that they identify with,” said Mark Barnett, president of Mastercard Europe. “This map feature alleviates a major pain point in the transgender and non-binary community and allows people to use their true identities securely, easily and with pride. We call on the payment industry to apply this standard to everyone.’
“We are proud to be part of this development. At bunq we believe in the power of diversity and all the colors of the rainbow. True Name™ shows that a small change can have a big impact. It allows people to be free and live their lives the way they want,” said Ali Niknam, CEO of bunq.